SIBOR or SOR?

SIBOR is generally more stable while SWAP tend to fluctuate more. However 3-month SWAP has recently stayed consistently lower than 3-month SIBOR for an extended period of time. SOR is also very reactive to currency exchange rates.

Which bank offers the best home loan deals?

Interest rates and spreads are not all that matter. Don't ignore the closing costs involved. Different banks can have different customized home loans for you. Don't be surprised if you will save more on a home loan that charges more interest because of the lesser closing costs involved. This is especially so if you know that you will refinance your home loan as soon as the lock in period has expired.

HDB loan or bank housing loan?

Our opinion is to always take a HDB concessionary loan if you are eligible for one. One of HDB's objectives is to to provide affordable housing for the people. While a bank is profit driven.

Negative Amortization?

Negative amortization for a housing loan occurs when your outstanding housing loan balance increases instead of decreases. There are a few instances that this can happen. Speak to us to learn more.

Finding The Best Housing Loan Deals

If you are going about yourself to find the best housing loan Singapore, keep these in mind

Duration: Find out the maximum loan tenure that you can get from the bank. Usually the loan term will be 30 to 35 years, or up to when you reach the age of 65, 70, or 75 (whichever is lower), depending on the lender you apply with.

Monthly payments:
Make comparisons from different offers from different lenders. Compare the monthly installments based on different interest structures. Failing to make comparisons will rob you from knowing what is the best housing loan deal in the market.

Fees: Find out the administrative fees, legal fees, insurance premium, etc. Ask about these fees before making a commitment. You don’t want to get a shock only after you signed on the mortgage offer. Sometimes, in the frantic search for your Singapore housing loan, you may have neglected the details of these extra fees and charges.

Freebies: Ask about subsidies that the bank is comfortable to offer you. In certain scenarios, fire insurance, valuation fees, legal fees, etc, are common fees that can be subsidized. Free fire insurance is a common giveaway from the banks.

Penalties: Find out about partial and full redemption penalties. If you have the intention to repay your housing loan in the near future, it is crucial that you know about the early redemption terms of the housing loan package.

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